In the first trading session of the year, stock markets rose in the U.S. and they were mixed in Europe, declining in core countries and advancing in the Euro Area periphery.
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U.S. stock markets rebounded while in Europe the tone was mixed. In sovereign bond markets, 10-year yields nudged down in the U.S. and edged up in the Euro Area.
Stock markets rose in the U.S. but experienced widespread declines in Europe. In fixed-income markets, U.S. sovereign yields ticked up and European yields remained stable (with the exception of Portugal's).
Stocks rose supported by the release of strong earnings, both in the U.S. and Europe, while in fixed-income markets sovereign yields on U.S. and Euro Area bonds edged up.
Yesterday stock markets registered small declines both in Europe and the U.S. In sovereign bonds markets, yields edged higher in the U.S. while they decreased slightly in Europe.
Yesterday, U.S. and European stock markets declined while, in fixed-income markets, yields on 10-year Treasuries and euro area sovereign bonds edged lower.
Yesterday European assets suffered another risk-off episode (more moderated than the experienced in late May) after two euro skeptic economists from League were appointed as heads of economic committees of the Italian Senate.
Investors in European markets exhibited a positive mood, and the main euro area stock market indices advanced by around 1.0 percent in yesterday's session (with the exception of the Portuguese PSI20, which remained flat).
European stock markets continued with the positive mood of the last session and gains were moderate and broad-based across the different European countries.
In yesterday's session, financial markets operated in a risk-off scenario, partly fueled in Europe by the European Commission's response to the Italian budget, which hints the possibility of a rejection from Brussels.
The European Commission's (EC) downward revision of economic growth forecast for the euro area worsened investor sentiment.
With U.S. markets closed for the Memorial Day holiday, European stocks advanced moderately at the start of the week as investors digested the results of the weekend's European Parliament election.
Markets tilted towards a risk-off mood in a session dominated by U.S. news. U.S., German and other core sovereign yields declined, euro area peripheral spreads widened, safe-haven currencies (such as the CHF and the JPY) appreciated against the USD (while the euro was roughly stable), and stocks exhibited a poor performance globally.